Sino Land (0083) announced its interim results as of the end of December last year. After excluding the impact of changes in the fair value of investment properties, the underlying profit attributable to shareholders was 2.802 billion yuan, down 35.8% year-on-year; taking into account the revaluation losses of investment properties, shareholders The attributable profit was 2.459 billion yuan, down 41.79% year-on-year.
The company declared an interim dividend of 15 cents.
The company pointed out that the total property sales revenue attributable to the period was 3.899 billion yuan, and pointed out that the property sales revenue during the year mainly came from the sale of St. George's Mansion in Ho Man Tin and other projects.
As of last year, the company's unbooked contract sales exceeded 18.2 billion yuan, of which 4.9 billion yuan will be booked in the second half of the current fiscal year.
The company also pointed out that it has a total land bank of 20.2 million square feet in Hong Kong, the Mainland, Singapore and Sydney, Australia.
Rental income of more than 1.7 billion yuan
In terms of leasing business, the attributable rental income for the period was 1.728 billion yuan, a year-on-year decrease of 3.8%, which is related to the negative growth of rents caused by the fifth wave of the epidemic and the decline in occupancy rates of office buildings.
Net rental income was 1.48 billion yuan, down 4.9% year-on-year, and the occupancy rate of investment properties was 91.1%.
As for the hotel business, the revenue for the period was 692 million yuan, an increase of 180% year-on-year, and the operating profit was 229 million yuan, a year-on-year increase of 17.2 times.
Has net cash of 41.2 billion yuan
In the business report, it shows that as of the end of last year, it had a net cash of 41.2 billion yuan.
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The company said that in 2023, it will launch a number of new properties, providing a total of 2,077 units, including 644 units in Tseung Kwan O Kai Park III, 680 units in Yuen Long Kam Sheung Road Station Park Tower III, and ONE CENTRAL PLACE in Central. 121 units, 800 units in Phase 4 of Wong Chuk Hang Station, 634 units in Yau Tong Ventilation Building Project, etc.
Huang Zhixiang, chairman of Sino Land, said that it is expected that the pressure of the interest rate hike cycle will gradually slow down and China's re-clearance of customs will provide support for the Hong Kong residential market. It is fully prepared for the normalization of the operating environment in the short term, while focusing on long-term sustainable growth.
The Group's financial stability and sustainable business growth strategy will help it cope with the challenges of the economic environment and seize opportunities.
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